Remembering a Wall Street Legend: Arthur D. Cashin Jr.
Arthur D. Cashin Jr., the renowned director of floor operations at the New York Stock Exchange, has passed away at the age of 83. For over 25 years, he was a familiar face on television, sharing his insights and expertise with the financial community.
A Respected Voice on Wall Street
Cashin was a rare breed in the competitive world of stock market commentary. He was respected by both bulls and bears, liberals and conservatives alike. His unique blend of charm, wit, intelligence, and old-school values earned him a reputation as a trusted authority on Wall Street.
A Link to the Past
Cashin was a connection to the NYSE’s rich tradition. Every year, he led the singing of the 1905 song “Wait ‘Till the Sun Shines, Nellie” on Christmas Eve and New Year’s Eve. He refused to adopt modern conveniences, preferring to pay with cash and use handwritten notes. His desk was a testament to his love of paper, with piles of documents accumulated over the decades.
A Storyteller at Heart
Cashin’s greatest asset was his ability to tell stories that made the stock market accessible to everyone. He was a meticulous observer of fundamental and technical trading patterns, but he never let data get in the way of a good narrative. His daily market commentary, Cashin’s Comments, was a must-read on Wall Street, often starting with a historical anecdote that tied into the day’s market events.
A Behavioral Psychologist Ahead of His Time
Cashin was a keen observer of human behavior, long before the term “behavioral psychology” was coined. He understood how people tended to overreact to events and how those who took the time to think things through did much better in the long run.
A Love for Family and the NYSE
Cashin had two great loves in his life: his family and the New York Stock Exchange. He was philosophical about the rise of electronic trading, acknowledging its benefits while mourning the loss of the NYSE’s heyday.
A Humble Legacy
Cashin will be remembered for his modesty and humility. He was puzzled by his own popularity, saying, “People have an interest in — in Arthur Cashin. I can’t fully understand why.” When The Washington Post profiled him as Wall Street’s version of Walter Cronkite, he quipped, “I think I owe an apology to Walter Cronkite.”
A Lasting Impact
In lieu of flowers, the family requests donations to the Arthur D. Cashin Jr. Memorial Scholarship at Xavier High School. Contributions can be sent to Xavier High School, 30 West 16th Street, New York, NY 10011.
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